Safe and Sound

WEOKIE

Oklahoma City, OK
4
Star Rating
Oklahoma City, OK-based WEOKIE is an NCUA-insured credit union founded in 1969. As of December 31, 2017, the credit union held assets of $1.02 billion.

Thanks to the efforts of 194 full-time employees, the credit union currently holds loans and leases worth $603.7 million. WEOKIE's 54,441 members currently have $704.6 million in shares with the credit union.

Overall, Bankrate believes that, as of December 31, 2017, WEOKIE exhibited a good condition, earning 4 out of 5 stars for safety and soundness. Here's a look at how the credit union faired on the three important criteria Bankrate used to evaluate U.S. credit unions.

WHAT IS
SAFE AND SOUND?

Find out

THE INSTITUTION'S SCORE

Capital Score

When it comes to measuring a credit union's financial strength, capital is crucial. It acts as a cushion against losses and affords protection for members during periods of economic instability for the credit union. When it comes to safety and soundness, the higher the capital, the better.

On our test to measure capital adequacy, WEOKIE achieved a score of 16 out of a possible 30 points, beating the national average of 15.65.

WEOKIE's capitalization ratio of 16.00 percent in our test puts it right in line with the average for all credit unions.

Asset Quality Score

Bankrate uses this test to estimate the effect of troubled assets, such as unpaid loans, on the credit union's reserves set aside to cover loan losses, as well as overall capitalization.

Having extensive holdings of these kinds of assets could eventually require a credit union to use capital to absorb losses, diminishing its equity cushion. It also means that there are likely to be many assets that are in non-accrual status and thus aren't earning money, resulting in lower earnings and potentially more risk of a failure in the future.

WEOKIE exceeded the national average of 38.09 on Bankrate's asset quality test, racking up 40 out of a possible 40 points .

A lower-than-average ratio of problem assets of 0.00 percent in our test was potentially indicative of superior financial strength compared to other credit unions.

Earnings score

How successful a credit union is at earning money affects its safety and soundness. A credit union can retain its earnings, giving a boost to its capital buffer, or put them to work addressing problematic loans, potentially making the credit union more resilient in times of trouble. Conversely, losses reduce a credit union's ability to do those things.

WEOKIE received above-average marks on Bankrate's test of earnings, achieving a score of 12 out of a possible 30.

One indication that the credit union is beating its peers in this area was its earnings ratio of 0.00 percent in our test, above the average for all credit unions.

WHAT IS SAFE & SOUND?

Bankrate.com's Safe & Sound Ratings provide a star rating system to evaluate the current financial status of financial institutions. The information gathered about banks, credit unions and thrifts is updated as set forth in the Terms of Use of Safe & Sound Ratings and Reports. The Safe & Sound Ratings information is grouped by categories of banks, thrifts and credit unions.

Scoring methodology

Bankrate.com evaluates the financial condition of institutions and assigns a one- to five-star rating for each with five stars representing the highest rating. Institutions with satisfactory performance will generally receive a rating of three or more stars. The majority of institutions fall into the three- to four-star range. An institution with an "NR" rating may be too new to rate or may have limited the publicly available information in their regulatory filings. The "NR" is not an indication of financial strength or weakness. The Safe & Sound rating is believed to be reliable, but the information is not guaranteed. In addition, events since the information was collected may have altered the institution's financial condition.